Credit unions

U.K. credit unions have traditionally been associated with loan and savings products, but the industry is eyeing a move into the payments markets to offer an alternative to traditional banking.

On Sep. 30, 2018. Dollars in thousands.

On Sep. 30, 2018. Dollars in thousands.

On Sep. 30, 2018. Dollars in thousands.

Credit unions and smaller banks can differentiate themselves by returning to the passion for personal service that first anchored their success, and payments are central to this strategy, according to Deborah Matthews Phillips, managing director of payment strategy at Jack Henry.

CUNA and NAFCU both issued letters to the National Credit Union Administration suggesting ways federal credit union bylaws could be amended.

There are many contenders working towards developing a universal digital ID system. CULedger will test its offering later this week with a rollout scheduled for the second half of 2019.

There are many contenders working towards developing a universal digital ID system and away from static passwords. A group of credit unions is ready to see if its blockchain-based approach can serve a wider market.

The Ohio-based corporate has unveiled Sherpa Technologies, a credit union service organization intended to help CUs better navigate the tech landscape for financial institutions.

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